10-year Treasury yields near 1.60% again
The spike above 1.60% on the non-farm payrolls report last week was faded but with the absence of Fedspeak this week, Treasury sellers will likely test the waters again to see how far they can extend the selloff after Powell's lack of obstruction last week.
Keep an eye on things here as it will have spillovers to the broader market, with the dollar already keeping firmer to start the day and equities keeping more tentative as tech is also coming under pressure in European morning trade.
It is a weird time in the market where ECB PEPP data later today and Treasury auctions later this week are going to be arguably the most important risk events to watch.
